The republic of india has set ambitious targets for its long-awaited debut in the US dollar bond market as it seeks to ease pressure on domestic investors. The government announced plans for a debut US dollar deal in the July 5 budget, and could raise about 10%-15% of this fiscal year's proposed Rs7.1trn (US$103.2bn) gross borrowings through offshore sovereign bonds, officials said in a briefing last week. Bankers are also using the figure of around USSlObn as a working hypothesis.
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